Wealth Effects LLC Trims Stock Position in Johnson & Johnson (NYSE:JNJ)

Wealth Effects LLC trimmed its stake in Johnson & Johnson (NYSE:JNJ) by 3.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,193 shares of the company’s stock after selling 351 shares during the period. Wealth Effects LLC’s holdings in Johnson & Johnson were worth $1,344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Innealta Capital LLC acquired a new stake in shares of Johnson & Johnson in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in Johnson & Johnson during the 1st quarter worth $31,000. MFA Wealth Advisors LLC purchased a new position in Johnson & Johnson during the 2nd quarter worth $43,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Johnson & Johnson in the fourth quarter valued at about $44,000. Finally, Grayhawk Investment Strategies Inc. raised its holdings in shares of Johnson & Johnson by 528.6% in the fourth quarter. Grayhawk Investment Strategies Inc. now owns 308 shares of the company’s stock valued at $48,000 after buying an additional 259 shares during the last quarter. 69.55% of the stock is currently owned by institutional investors and hedge funds.

Johnson & Johnson Trading Down 1.4 %

Shares of Johnson & Johnson stock opened at $164.99 on Friday. The company has a 50-day moving average of $157.21 and a two-hundred day moving average of $153.78. Johnson & Johnson has a 12-month low of $143.13 and a 12-month high of $168.85. The company has a current ratio of 1.07, a quick ratio of 0.85 and a debt-to-equity ratio of 0.44. The stock has a market cap of $397.08 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52.

Johnson & Johnson (NYSE:JNJ) last released its quarterly earnings data on Wednesday, July 17th. The company reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.11. The firm had revenue of $22.45 billion during the quarter, compared to the consensus estimate of $22.33 billion. Johnson & Johnson had a return on equity of 36.60% and a net margin of 46.34%. Johnson & Johnson’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. On average, research analysts anticipate that Johnson & Johnson will post 10.02 EPS for the current fiscal year.

Johnson & Johnson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be given a $1.24 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $4.96 annualized dividend and a dividend yield of 3.01%. Johnson & Johnson’s dividend payout ratio is presently 30.92%.

Insider Activity at Johnson & Johnson

In other Johnson & Johnson news, VP Robert J. Decker sold 5,635 shares of Johnson & Johnson stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $165.06, for a total transaction of $930,113.10. Following the completion of the transaction, the vice president now owns 18,973 shares in the company, valued at $3,131,683.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com upgraded Johnson & Johnson from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Daiwa America lowered Johnson & Johnson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 23rd. TD Cowen decreased their price target on Johnson & Johnson from $195.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Sanford C. Bernstein boosted their price objective on shares of Johnson & Johnson from $161.00 to $171.00 in a research note on Thursday, July 18th. Finally, Morgan Stanley raised their target price on shares of Johnson & Johnson from $167.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Johnson & Johnson has a consensus rating of “Moderate Buy” and a consensus price target of $173.21.

About Johnson & Johnson

Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company's Innovative Medicine segment offers products for various therapeutic areas, such as immunology, including rheumatoid arthritis, psoriatic arthritis, inflammatory bowel disease, and psoriasis; infectious diseases comprising HIV/AIDS; neuroscience, consisting of mood disorders, neurodegenerative disorders, and schizophrenia; oncology, such as prostate cancer, hematologic malignancies, lung cancer, and bladder cancer; cardiovascular and metabolism, including thrombosis, diabetes, and macular degeneration; and pulmonary hypertension comprising pulmonary arterial hypertension through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.